Azimut hotel chain leaves Europe

The Azimut Hotels chain ceases participation in the business of all European hotels, announced on March 8 RBC representative of Gleden Invest, which manages the assets of entrepreneur Alexander Klyachin.

It is planned that during the year all European projects will be closed. In addition, the press service of Azimut Hotels reported that the company has terminated management agreements with some European hotels that operated under the Azimut brand.

At the same time, a representative of Gleden Invest assured that the network remains an international company. In particular, two new hotels are expected to open in Israel in 2024, and projects in the CIS countries are being worked out.

In 2022, the company operated eight hotels in Germany and Austria. Now there are only three left in Europe. Hotels in Dresden, Erding and Nuremberg continue to operate under the Azimut brand.

As RBC recalls, Azimut Hotels entered the European market in 2008. Central European Hotel Investment Klyachin bought a hotel chain of 20 hotels from the Austrian Hotel Company located in 17 cities in Austria, Germany and the Czech Republic, but in subsequent years the number of hotels decreased.

Last June, InterContinental Hotels Group, which owns the Holiday Inn and Crowne Plaza hotel chains, ceased operations in Russia due to sanctions.

Also at the beginning of the summer of 2022, the Marriott hotel chain (working under the brands Sheraton, Ritz-Carlton, Renaissance and others) announced the suspension of activities in Russia. The company explained that the EU, US and UK sanctions imposed against Russia made it impossible to continue doing business in the country.

Foreign companies began to suspend their activities in Russia, including in connection with the sanctions of the West, imposed in response to Russia’s conduct of a special operation to protect the Donbass from February 24.

For latest updates and news follow BLiTZ on Google News, YouTube, Facebook, and also on Twitter.

- A word from our sponsors -

Most Popular

Leave a Comment

%d bloggers like this: